62% of Americans are living paycheck to paycheck, as holiday spending, credit card debt rise | CNBC

62% of Americans are living paycheck to paycheck, as holiday spending, credit card debt rise | CNBC

62% of Americans are living paycheck to paycheck, as holiday spending, credit card debt rise | CNBC

In its recent policy meeting, the Federal Reserve announced that while inflation has slightly eased over the past year, prices remain elevated. Despite this, a concerning trend persists among households: a significant portion of adults continue to live paycheck to paycheck, with 62% reporting this financial struggle, according to a LendingClub report.

As the holiday season approaches, there’s optimism in the retail sector. As per the National Retail Federation, holiday spending is projected to reach a new record, with an expected increase of 3% to 4% over the previous year, totaling between $957.3 billion and $966.6 billion. However, there’s a striking paradox: even as credit card debt exceeds $1 trillion, a TD Bank survey found that 96% of shoppers anticipate overspending. Half of consumers intend to take on additional debt to cover holiday expenses, while only 23% have a plan to pay it off within one to two months.

This scenario raises an important question: In a time of economic uncertainty and high consumer debt, how can individuals better manage their finances, especially during increased spending like the holidays? What strategies can be employed to strike a balance between enjoying the festivities and maintaining financial stability?………full-loaf-600x400-1-e1700879832480 62% of Americans are living paycheck to paycheck, as holiday spending, credit card debt rise | CNBC[read more]

Rising Dough

Rising-Dough-e1700879911412 62% of Americans are living paycheck to paycheck, as holiday spending, credit card debt rise | CNBCHow can individuals effectively navigate the challenges of holiday spending and rising consumer debt in today’s economic landscape?

*Click on the “Full Loaf” icon to read the full article! After you read the full article, let us know your thoughts.

0 0 votes
Article Rating
stone-street-coffee-logo 62% of Americans are living paycheck to paycheck, as holiday spending, credit card debt rise | CNBC ☕️ **Discover Stone Street Coffee Company – Your Coffee Haven!** Today’s Dough readers, if you’re on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today’s Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street’s commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

Subscribe
Notify of
efa4075aa671ad045db1cbd28e3156e2?s=56&d=mm&r=g 62% of Americans are living paycheck to paycheck, as holiday spending, credit card debt rise | CNBC

0 Comments
Inline Feedbacks
View all comments

Share this content:

0 0 votes
Article Rating
stonestreetcoffee.com ☕️ **Discover Stone Street Coffee Company - Your Coffee Haven!** Today's Dough readers, if you're on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today's Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street's commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x
×